Intercontinental Exchange (NYSE:ICE) Rating Lowered to Sell at StockNews.com

Intercontinental Exchange (NYSE:ICE) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

A number of other research firms also recently issued reports on ICE. JPMorgan Chase & Co. lifted their price objective on Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday. Barclays reduced their price target on shares of Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday. Citigroup increased their price objective on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Piper Sandler lifted their price objective on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus target price of $147.92.

Intercontinental Exchange Price Performance

ICE traded up $3.96 during trading on Friday, hitting $130.50. 3,990,207 shares of the company traded hands, compared to its average volume of 2,426,097. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80. The company has a market cap of $74.73 billion, a PE ratio of 31.07, a P/E/G ratio of 2.11 and a beta of 1.02. The stock’s 50-day simple moving average is $135.17 and its two-hundred day simple moving average is $125.68. Intercontinental Exchange has a 1 year low of $103.81 and a 1 year high of $140.43.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter last year, the business posted $1.41 earnings per share. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intercontinental Exchange will post 5.95 earnings per share for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the sale, the general counsel now owns 48,713 shares in the company, valued at approximately $6,417,450.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, General Counsel Andrew J. Surdykowski sold 341 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $131.74, for a total transaction of $44,923.34. Following the transaction, the general counsel now owns 48,713 shares in the company, valued at $6,417,450.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Intercontinental Exchange, Inc acquired 350,880 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was acquired at an average cost of $0.87 per share, with a total value of $305,265.60. Following the completion of the purchase, the insider now owns 649,934 shares of the company’s stock, valued at $565,442.58. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 157,832 shares of company stock worth $21,499,127. Insiders own 1.10% of the company’s stock.

Institutional Trading of Intercontinental Exchange

A number of hedge funds have recently bought and sold shares of the stock. Annapolis Financial Services LLC raised its position in shares of Intercontinental Exchange by 1,018.8% in the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 163 shares in the last quarter. Redmont Wealth Advisors LLC bought a new stake in Intercontinental Exchange during the first quarter valued at about $26,000. Scarborough Advisors LLC purchased a new position in Intercontinental Exchange in the fourth quarter valued at about $25,000. Venturi Wealth Management LLC raised its holdings in Intercontinental Exchange by 82.3% in the first quarter. Venturi Wealth Management LLC now owns 206 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 93 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in shares of Intercontinental Exchange during the fourth quarter valued at about $28,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.